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Built at an estimated cost of £240 million, it marked the next major phase of construction in the Broadgate estate that began in the 1980s to provide high-specification office space for the Square Mile. The tower is situated in the northeast corner of the City of London, north of Liverpool Street station. It was completed in 2009.

As the tower lies over major railway lines heading into Liverpool Street, groundwork took longer than would normally be expected for a tower of this size, as all work had to be stopped whenever a train was in the vicinity of the station. However, the steel core has the advantage of a quicker finish than a concrete core. It was the first skyscraper to be built in London since One Churchill Place at Canary Wharf.

Ancient artefacts were found during the building of the skyscraper, holding up its construction for several years.

In February 2005 Broadgate Plaza Ltd, a subsidiary of The British Land Company plc, submitted a planning application to the City of London for the construction of two buildings of 33 stories and 13 stories respectively.[1]